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Refinance Your Mortgage

As your financial needs change, your mortgage can too.

Equal Housing Lender Home Loans – Provided by Rocket Mortgage®

Enjoy exclusive discounts available through Schwab Bank.

0.250%

interest rate discount

$250K – $999K

in qualifying assets1

0.500%

interest rate discount

$1M – $4.9M

in qualifying assets1

0.750%

interest rate discount

$5M – $9.9M

in qualifying assets1

1.000%

interest rate discount

$10M+

in qualifying assets1

Take advantage of discounts and competitive rates through Schwab Bank’s Investor Advantage Pricing.1

See rates and more loan options >

With Schwab Bank's home lending program provided by Rocket Mortgage, you can choose to refinance your home mortgage when looking to lower your monthly payments or pay off your loan sooner.

Service

For 11 years in a row, J.D. Power has ranked Rocket Mortgage highest in the nation in customer satisfaction for Primary Mortgage Origination. And for the 7th year in a row, they also ranked Rocket Mortgage highest in the nation for Mortgage Servicing.4 Throughout the loan process, you'll work side by side with both Schwab Bank and a Rocket Mortgage team solely dedicated to serving Schwab clients.

Convenience

Closing may take place at your home, your office, or another preferred location, plus you may sign and submit most disclosures and supporting documentation electronically. With electronic documentations, you'll reduce paperwork by signing forms online and from your home, not to mention save time by eliminating the scanning and mailing of forms.

Value

As a Schwab client, you have access to competitive discounted rates for home loans, including mortgage refinancing, as well as advantaged pricing on home purchase and refinancing loans.1 These options—made possible by Schwab Bank and Rocket Mortgage—are designed to fit client needs and help you save on monthly payments.

Industry Leaders

Experience the benefits of working with Schwab Bank and "Rocket Mortgage, America's largest mortgage lender."3

Why did Schwab Bank team with Rocket Mortgage? For award-winning service and industry-leading technology.

Watch our video to find out more >

Mortgage Rate Calculator

Begin to plan for your mortgage with the mortgage rate calculator. Based on your specific situation, you will see the rate you may qualify for. Your calculations will be tailored to the goals and data you provide.

Get a customized mortgage rate quote >

Use the home equity you've already built.

With a Home Equity Line of Credit (HELOC),5 you can use your home's equity for home improvements, major purchases, debt consolidation, or other expenses.

Get Started Online or Call Rocket Mortgage at 877-535-4021

Find a home loan that's right for you.

Fixed-Rate Loan

  • You want a stable monthly payment for the life of the loan.
  • You are uncomfortable with interest rates rising significantly over the next few years.
  • You are purchasing a home you plan to stay in for a long time.

Adjustable-Rate Loan

  • You want to lower your initial monthly payments.
  • You plan to sell or refinance your home within the initial fixed-rate period.
  • You expect your income to increase in the future.
  • You don't anticipate interest rates to increase significantly in the future.

Note: Your interest rate and monthly payments may increase after the initial fixed-rate period ends.

Interest-Only Loan

  • You have plans to sell the property within a short period.
  • If you anticipate the ability to make a large principal reduction within the next few years of the loan, an interest-only loan may be a good option.
  • Interest-only loans6 may be a good fit for your needs if you have irregular income such as investments and commissions, whereas if you have steady income levels your needs may be better satisfied with principal and interest payment loans.
  • After the initial interest-only period, your monthly payments will rise.

How the home loan process works in 5 steps:

1Talk to us about your goals

You'll talk with either your Financial Consultant or a Rocket Mortgage Home Loan Expert about your home financing needs and your goals. They will answer any mortgage questions you may have.

Frequently asked mortgage refinancing questions

  • It depends on your situation, including your current interest rate and how long you intend to stay in your house. Based upon proprietary studies at Schwab Center for Financial Research, refinancing may make sense if you can lower your interest rate by at least half a percent. Reducing your rate in this fashion could increase your monthly cash flow as you may pay less in interest, If your goal is to shorten the length of your mortgage, your monthly payments could increase. However, you could generally save a considerable amount of interest over the life of the loan.

  • Yes. Many people borrow against the equity in their home. This could be a way to increase your cash reserves. However, we strongly recommend that you consult first with your financial planner, accountant, or other financial professional before you decide to move forward with this option.

  • Just like when you got your original loan to purchase the home, you'll have closing costs associated with refinancing, such as origination or appraisal, processing, and title company fees. You may have the option of rolling these costs into the loan amount to reduce the amount you pay out of pocket.

  • As a Schwab client, you may be eligible for the Investor Advantage Pricing (IAP) program as well as a variety of mortgage products aimed at meeting your specific needs. IAP provides Schwab clients with a mortgage rate discount based on your eligible assets held at Schwab.

  • If you qualify, generally you can use up to 80% of the appraised value of your home to make home improvements. The equity you can use is based on the value of your home and how much you currently owe, and is subject to applicable state laws.

Don't see the answer you need?

Call Rocket Mortgage at
877-535-4021

Want more info on today's rates?

View today's featured mortgage rates and see which loan types qualify for Investor Advantage Pricing.1

Visit the Rates page to see exclusive discounts >

Looking to buy a home?

Receive discounted interest rates on your home loan as a Schwab client.

Explore home loan options >

Need a home equity line of credit?

Obtain a competitive-rate home equity line of credit (HELOC)5 with Schwab Bank's home equity lending program, provided by Rocket Mortgage.

Benefit from your home's equity with a low APR >
Let's talk about refinancing solutions.

In order to participate, the borrower must agree that the lender, Rocket Mortgage, may share their information with Charles Schwab Bank and Charles Schwab Bank will share their information with the lender Rocket Mortgage. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and collateral approval. Other conditions and restrictions may apply. This offer is subject to change or withdraw at any time and without notice. Interest rate discounts cannot be combined with any other offers or rate discounts. Hazard insurance may be required.

1. For Schwab Bank Investor Advantage Pricing (IAP): Loans are eligible for only one Investor Advantage Pricing discount per loan. Select mortgage loans are eligible for an interest rate discount of 0.250% - 1.000% based on qualifying assets of $250,000 or greater. Discount applies to ARMs, Jumbo 15-yr and Jumbo 30-yr fixed (excludes HELOCs, VA loans, and FHA loans). Discount for ARMs applies to initial fixed-rate period only.

Qualifying assets are based on Schwab brokerage and Schwab Bank combined account balances, including:

a) Brokerage accounts in which the borrower(s) is an owner, trustee or custodian;  
b) Traditional, Roth, and Rollover Individual Retirement accounts (IRA)* - individually owned or inherited (excludes Educational & Custodial IRAs);
c) Bank accounts in which the borrower(s) is an owner or trustee: checking & savings;
d) Non-Retirement Business Corporation, LLC, Partnership and Sole Proprietorship accounts may be eligible depending on the borrower’s ownership and role (excludes business retirement accounts such as Simple IRA, SEP IRA & Pension Trust). 

*Clients of Independent Investment Advisors: Qualifying assets are based on non-retirement Schwab brokerage and Schwab Bank combined account balances. Retirement accounts, including all IRAs, are excluded from this offer. For additional details please visit and log into www.schwaballiance.com.

Schwab Bank makes its best effort to identify all qualifying assets based on your Social Security Number. If you have questions regarding your specific assets or account eligibility, please call your Schwab Bank representative for assistance. Clients that utilize an eligible IRA account balance to qualify for certain discounts may qualify for one special IRA benefit package per loan. This includes an in-depth personal financial plan analysis to include a detailed review of your IRA by a Certified Financial Planner. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab Bank recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.  

Clients must notify Schwab and Rocket Mortgage of any new assets brought to firm during processing. Qualifying new assets should be deposited and verified 15 days prior to the anticipated closing date to avoid closing delays. If the qualifying assets are deposited with less than 15 days remaining before closing, the closing date may be delayed, and eligibility to receive the interest rate discount may be affected. For the $10MM tier, you must apply and lock your interest rate on or after 7/30/21 to qualify for the discount offer.

2. Due to market fluctuations, interest rates are subject to change at any time and without notice and are subject to credit and property approval based on underwriting guidelines. The rate and APR shown is based on a purchase loan of an owner occupied, single family residence. Your individual rate may vary.

Interest Rates, APRs, and Monthly Payment calculations are based on the following loan amounts and Loan-to-Value (LTV):
Conforming: $250,000, 60% LTV
Jumbo: $850,000, 60% LTV
Rates may be higher or lower for different loan amounts, loan products, property type, credit score, occupancy, Loan-to-Value, and loan purposes.

3. Rocket Mortgage by Quicken Loans received the highest score in the J.D. Power 2010 – 2020 (tied in 2017) Primary Mortgage Origination and 2014 – 2020 Primary Mortgage Servicer Studies of customers’ satisfaction with their mortgage sales experience and mortgage servicer company, respectively.   Visit JDPower.com/Awards.

4. "Rocket Mortgage, America's Largest Mortgage Lender" Based on Rocket Mortgage data in comparison to public data records.

5. Home equity lines have a 10‐year draw period followed by a 20‐year repayment period. During the draw period, monthly payments of accrued interest are required. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest. You may not use this home equity line as a bridge loan, for commercial purposes, to invest in securities, or to repay a margin loan.

HELOC Terms: First lien standalone HELOCs are available. Second lien standalone or piggyback HELOCs are available with an eligible Schwab Bank first lien loan. As of 3/16/2020 the annual percentage rate (APR) for a primary residence HELOC opened simultaneously with your first mortgage loan—also known as piggyback loan—is 3.00% . Rates vary for second homes, vacation homes, or HELOCs opened as standalone accounts. The APR on your home equity line of credit is variable based upon the Wall Street Journal Prime Rate plus a margin. The maximum APR that can apply is 18% or the maximum amount permitted by state law, whichever is less. The minimum credit line amount is $50,000 or the minimum amount permitted by state law, whichever is less. The maximum credit line is $1,000,000. Additional terms and conditions apply. Please contact your Schwab Bank representative for assistance regarding eligible loan types.

HELOC Fees: The estimated range of fees you may pay is from $0 ‐ $29.00 for every $1,000 of your line amount, and will vary based on the location of the property. The amounts provided are estimates and are not a substitute for initial disclosures of closing costs that you will receive once you apply for a home equity line of credit with Rocket Mortgage. Proof of proper and adequate insurance may be required prior to closing. You are responsible for paying any state, county, or local taxes imposed on a home mortgage transaction.

6. Interest-only mortgages have an initial interest-only payment period followed by a fully amortizing payment period. After the interest-only period ends, your monthly payments will increase because you will be paying both principal and interest. Interest-only mortgages include additional risks you should consider. For more information about these risks, please contact a home loan specialist.

Rocket Mortgage, LLC; NMLS #3030; www.nmlsconsumeraccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply. Lending services provided by ©2000 – 2021 Rocket Mortgage LLC, a subsidiary of Rock Holdings Inc. "Rocket Mortgage" is a registered service mark of Intuit Inc., used under license.

Charles Schwab Bank, SSB and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products offered by Charles Schwab & Co., Inc. (Member SIPC) are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, SSB and are subject to investment risk, including the possible loss of principal invested. Charles Schwab & Co., Inc. does not solicit, offer, endorse, negotiate or originate any mortgage loan products and is neither a licensed mortgage broker nor a licensed mortgage lender. Home lending is offered and provided by Rocket Mortgage, LLC. Rocket Mortgage LLC., is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc. or Charles Schwab Bank, SSB. Deposit and other lending products are offered by Charles Schwab Bank, SSB, Member FDIC and Equal Housing Lender used under license.